Genuine Parts Company (GPC) Scheduled to Post Quarterly Earnings on Thursday
Genuine Parts Company (NYSE:GPC) will be issuing its quarterly earnings data before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $1.30 per share for the quarter. Genuine Parts has set its FY17 guidance at $4.70-4.75 EPS.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.02). The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. On average, analysts expect Genuine Parts to post $4.73 EPS for the current fiscal year and $5.10 EPS for the next fiscal year.
Genuine Parts Company (NYSE GPC) opened at 95.50 on Thursday. Genuine Parts Company has a 12 month low of $79.86 and a 12 month high of $100.90. The company has a 50-day moving average price of $88.75 and a 200 day moving average price of $89.07. The firm has a market cap of $14.02 billion, a PE ratio of 20.68 and a beta of 1.10.
Genuine Parts declared that its Board of Directors has initiated a share buyback program on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a yield of 2.83%. Genuine Parts’s dividend payout ratio is currently 58.32%.
A number of brokerages have issued reports on GPC. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Thursday. Royal Bank Of Canada raised their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $96.33.
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Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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